Petroleum derived maleic anhydride is the conventional feedstock material used in the manufacture of succinic acid. Price of the conventionally derived succinic acid is vulnerable to any ups and down in petroleum prices. Raw material price has remained a major concern for succinic acid manufacturers. Moreover, growing environmental concern among the end users has resulted in increasing demand for green products. To overcome these restraints, succinic acid manufacturers are gradually shifting towards development and commercialization of bio-based succinic acid. Various companies such as Reverdia and BioAmber are investing heavily in the development and production of bio-based succinic acid. Development and commercialization of bio-based succinic acid is expected to open new opportunities for industry players.

The market for succinic acid in 2011 was valued at USD 240.3 million and is forecasted to reach USD 836.2 million by the end of 2018, growing at a CAGR of 19.4% between 2012 and 2018. The growing demand for 1,4-butanediol, polyurethane, plasticizers, resins, coatings, dyes & inks, and pharmaceutical applications has triggered the demand for succinic acid on a global level. In 2011, resins, coatings, dyes, and inks together dominated the market, and accounted for 20.8% of the total succinic acid consumed globally. Stringent environmental regulations are expected to hamper the growth of petroleum-derived succinic acid in the years to come.

Increase in construction and infrastructure development activity is expected to trigger the demand for resin, coating, and polyurethanes, which in turn is expected to drive the growth of the market. Pharmaceutical was the second largest application of succinic acid, which accounted for 13.0% share of total consumption in 2012. 1,4 BDO is the fourth largest application market in 2011 however, it is expected to grow at a highest rate from 2012 to 2018. With over 12% share in total volume consumption, polyurethane was the third largest application of succinic acid in 2011 and is expected to grow at a CAGR of 28.0% from 2012 to 2018. Moreover, growing demand in emerging economies such as, China, India, Brazil, etc. has remained the major growth driver for the market during the recent past, and is expected to continue driving demand for succinic acid through 2018.

With 33.6% of market share Europe dominated the succinic acid market in 2011. Asia Pacific was the second largest market for succinic acid with 29.6% of the overall market share in 2011. It is estimated to be the fastest growing market for succinic acid owing to the increasing demand in China, India, and Japan. China has dominated the succinic acid market in Asia Pacific. North America had 29.2% of the overall market share in 2011 due to a high demand for resins, coatings, dyes, and inks in the market.

High production costs associated with petroleum based succinic acid is a key challenge for industry participants leading to enhanced focus on the development and commercialization of bio-based succinic acid. However, with the advent of bio-derived succinic acid, the cost of production is expected to decline which is expected to further fuel the demand for succinic acid globally. Bio-based succinic acid is gaining popularity due to high degree of government intervention to reduce industrial waste and air pollutants.

This report caters to the extensive study of the global succinic acid market. It covers the demand for succinic acid in various regions that are broadly categorized as North America, Europe, Asia Pacific and Rest of the World (RoW). The study delineates major factors, which are driving and restraining the global demand for succinic acid and their impact over the forecast period. The study segmented the succinic acid market on the application level and also provides the forecast for each sub segment. The study covers forecast and estimates of global succinic acid demand in terms of revenues (USD million) and volumes (Kilo tons) from 2012 to 2018.

Major succinic acid applications elucidated in this study includes 1,4 butanediol, polyurethane, plasticizers, resins, coatings, dyes & inks, pharmaceutical, food, cosmetics, solvents and lubricants, se-icing solutions, and others. Resins, coatings, dyes & inks have been dominating the global succinic acid market and are anticipated to continue to override over the next five years. 1, 4 BDO is anticipated to grow at a fastest rate through 2018. Polyurethane is expected to be second fastest growing outlet for succinic acid. The report also provides in-depth study covering the key business strategies and recent development of major players in the market. It also covers the company overview and their financial position that helps in determining competition in the market.

The report comprises a detailed value chain analysis of succinic acid, and porter’s five force model to understand market dynamics from raw material suppliers to end users. It helps in analyzing and building key business strategies for suppliers, buyers, substitutes, and possible new entrants.

Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed the key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This approach has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities. The secondary research sources that are typically referred to include, Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings, internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases and market reports, news articles, press releases and web-casts specific to the companies operating in the market.

The research provides detailed analysis of companies dealing in succinic acid, trend analysis and demand forecast by geography. Various levels of market segmentation, for which estimate and forecast has been provided are as follows:

Succinic Acid Market: Application Analysis

1,4-butanediol

Polyurethane

Plasticizers

Resins, coatings, dyes & inks

Pharmaceutical

Food

Cosmetics

Solvents and lubricants

De-icing Solutions

Others

Succinic Acid Market, Regional Analysis

North America

Europe

Asia-Pacific

Rest of the World (RoW)

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